mortgages
Property-secured bank loans
Mortgages is the plural of mortgage—a loan secured by real property, typically used to purchase a home.
The borrower repays the principal plus interest over years or decades; failure to pay allows the lender to seize the property through foreclosure.
They're comparing mortgages from different banks.
As a verb, mortgages means pledges property as security: She mortgages her future to pay for the present.
Attention, stake, or fee
- principalChief school administrator
- amortizationGradual debt reduction schedule
- refinanceObtain new loan terms
- downpaymentInitial payment toward purchase
points · fixed-rate · adjustable-rate · preapproval · qualification · term · APR · balloon
Security for debt
- lienClaim securing debt
- titleFormal honorific or name
- encumbranceHindrance or legal claim
- subordinationLower position in hierarchy
equity · pledge · covenant · insurance · escrow · trustee · release · satisfaction
One who loans money
- borrowerOne who takes temporarily
- underwriterOne who assumes financial risk
- brokerTransaction intermediary for hire
- servicerOne who maintains
creditor · mortgagee · co-signer · guarantor · appraiser · notary · bank · credit-union
Lender seizes mortgaged property
- delinquencyCriminal or neglectful behavior
- repossessionCreditor seizing collateral
- auctionCompetitive public sale
- bankruptcyLegal status when insolvent
deficiency · redemption · distress · hardship · forbearance · modification · underwater · arrears
interest
Attention, stake, or fee
- principalChief school administrator
- amortizationGradual debt reduction schedule
- refinanceObtain new loan terms
downpayment · points · fixed-rate · adjustable-rate · preapproval · qualification · term · APR · balloon · jumbo
collateral
Security for debt
- lienClaim securing debt
- titleFormal honorific or name
- encumbranceHindrance or legal claim
subordination · equity · pledge · covenant · insurance · escrow · trustee · release · satisfaction · priority
lender
One who loans money
- borrowerOne who takes temporarily
- underwriterOne who assumes financial risk
- brokerTransaction intermediary for hire
servicer · creditor · mortgagee · co-signer · guarantor · appraiser · notary · bank · credit-union
foreclosure
Lender seizes mortgaged property
- delinquencyCriminal or neglectful behavior
- repossessionCreditor seizing collateral
- auctionCompetitive public sale
bankruptcy · deficiency · redemption · distress · hardship · forbearance · modification · underwater · arrears · workout
homeownership
Legally possessing residential property
- residencePlace one inhabits
- dwellingPlace of residence
- real-estateProperty and land
land · parcel · appraisal · valuation · survey · zoning · occupancy
- modern economicsGDP, GDP growth, recession, inflation, interest rates
- credit termsloans, installment loan, credit limits, monthly payment, credit cards
- early bankingmoney changers, moneylenders, moneylending, money lending, loans
- liabilitiesaccounts payable, tax liability, payables, short-term debt, long-term debt
- mortgage termshome loans, foreclosure, lien, interest rates, fixed rate
- Business Contractspurchase agreements, loan agreements, partnership agreements, letters of intent, confidentiality agreements
mortgagesunsecured loans
Credit without collateral
unsecured credit · personal loans · credit card debt · payday loans · student loans
mortgagesfreehold
Permanent property title
clear title · renting · leasing · tenancy
- mortgage ratesCost of borrowing for property
- second mortgageSubsequent lien on property
- mortgage paymentRecurring housing debt transfer
- mortgage brokerArranges home financing
- mortgage loanDebt secured by property
- mortgage agreementsProperty purchase financing contracts
mortgage, mortgaged, mortgaging, mortgagor, mortgage broker, mortgager, mortgage lender, mortgage-backed